May 28, 2018 / 7:21 AM / a year ago

China blue-chips rise as consumer, healthcare firms climb

* Shanghai stocks lower, blue-chip CSI300 index up

* Gains in Shanghai stocks led by Hunan Fangsheng Pharmaceutical Co Ltd and losses by Guangdong Dcenti Auto-Parts Stock Ltd Co

* China’s A-shares are at a 19.71 percent premium over H-shares

SHANGHAI, May 28 (Reuters) - China’s blue-chip index ended higher on Monday, helped by robust gains in consumer and healthcare firms, and on signs the United States and North Korea were still working towards holding a summit. ** The blue-chip CSI300 index closed up 0.4 percent at 3,833.26, while the Shanghai Composite Index slipped 0.2 percent to 3,135.08 points. ** Sector performance was mixed on Monday. Gains were led by consumer and healthcare firms, with indexes tracking them ending up 3.3 percent and 2.3 percent, respectively. ** U.S. President Donald Trump said on Sunday a U.S. team had arrived in North Korea to prepare for a proposed summit between him and North Korean leader Kim Jong Un, which Trump pulled out of last week before reconsidering. ** Sentiment was also aided as worries eased over trade tensions between China and the United States, after Washington reached a deal to keep China’s ZTE in business. ** The Trump administration told lawmakers the U.S. government has reached a deal to put Chinese telecommunications company ZTE Corp back in business after it pays a significant fine and makes management changes, a senior congressional aide said on Friday. ** Chinese Vice President Wang Qishan said on Friday there would be no winners if there was a trade war between China and the United States, but said Beijing had to be ready for any turn of events. ** Investors also found solace after data showed profits earned by Chinese industrial firms in April rose at their fastest pace in six months.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.4 percent, while Japan’s Nikkei index closed up 0.13 percent. ** At 07:08 GMT, the yuan was quoted at 6.3926 per U.S. dollar, 0.01 percent weaker than the previous close of 6.3917. ** The largest percentage gainers on the main Shanghai Composite index were Hunan Fangsheng Pharmaceutical Co Ltd up 10.04 percent, followed by Weilong Grape Wine Co Ltd gaining 10.03 percent and Changbai Mountain Tourism Co Ltd up by 10.02 percent. ** The largest percentage losers on the Shanghai index were Guangdong Dcenti Auto-Parts Stock Ltd Co down 10.03 percent, followed by Jiangsu Rutong Petro-Machinery Co Ltd losing 10.02 percent and Zhejiang Grandwall Electric Science & Technology Co Ltd down by 10 percent. ** So far this year, the Shanghai stock index is down 5.2 percent, the CSI300 has fallen 4.9 percent while China’s H-share index listed in Hong Kong is up 3.6 percent. Shanghai stocks have risen 1.72 percent this month. ** As of 07:09 GMT, China’s A-shares were trading at a premium of 19.71 percent over the Hong Kong-listed H-shares. (Reporting by Shanghai Newsroom; Editing by Biju Dwarakanath)

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